"Over the last five years, C.J. developed from an undrafted player into an important member of our team," Broncos general manager John Elway said. "We appreciate all he did as a Bronco, especially during our Super Bowl season, and thank him for his many contributions on and off the field."

The Broncos tried to trade Anderson, per NFL Network Insider Ian Rapoport, to no avail.

Cutting the 27-year-old back comes a day after he told Mike Klis of KUSA he planned to report to Denver's offseason workouts on Monday. Anderson suggested he'd use the offseason of uncertainty to motivate him in 2018.

"Just focus on me," Anderson said. "Use it as motivation. But I'm going to focus on myself. I still have a job. Try to help my team win games. But at the end of the day, getting shopped around or rumors I was getting traded, I'm going to use it as motivation to show the organization I can still play at a high level."

Denver reportedly likes younger backs Devontae Booker and De'Angelo Henderson enough to move on from Anderson, who compiled 1,007 yards in 2017. General manager John Elway also is likely to add another back in next week's draft, which is expected to be deep at the position. (Heat up the "Broncos looking at Saquon Barkley at No. 5" rumors.)

For Anderson, he should find a landing spot at some point in the next several weeks -- possibly after the draft chips are spent. Behind a horrid Broncos offensive line, Anderson proved he still has pop and power to carry a workload. He'll likely land in a committee backfield for less money than he was scheduled to make in Denver, but the 224-pound back shouldn't be out of work long.